Russia reduced its central-bank gold reserves by about 6.2 tonnes in September, bringing the total reduction since January to about 62 tonnes. An expert says the sales are taking place in Hong Kong, with China's central bank as the main buyer. Kazakhstan plans to cut gold's share of its total reserves from around 78% to 75% by year-end, which the expert links to a budget deficit or taking profits. Poland, by contrast, has kept buying and is close to its 700-tonne target, and the expert considers a sell-off highly unlikely this parliamentary term. In US dollar terms, gold rose 25.5% in 2024 and 67.4% in 2025, according to the World Gold Council, but fell 4.4% in the first nine months of 2026.
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▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.7B |
| Close on 10/24/2026 | 4,004.01 |
| Change that session | +0.01% |
XAUT/USDT
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Relevance: medium
| Market | Crypto |
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| Sector | Real-world assets |
| Market cap | $3.1B |
| Close on 10/24/2026 | 3,994.05 |
| Change that session | 0.00% |
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
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| Close on 10/23/2026 | 3,995.78 |
| Change that session | -0.72% |
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Related news
- Russia sells 6 . 2 tonnes of gold in September as bullion reserves fall to lowest level since 2019
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Russia's central bank has sold gold for 10 consecutive months, pushing its reserves to 72.8 million ounces, the lowest since 2019. It sold 200,000 ounces (about 6.2 tonnes) in September alone, and since December 2025 it has sold 2 million ounces (62 tonnes), the largest run of sales since 1998 according to the IMF. Analyst Alexander Potavin of Finam says falling oil and gas revenue has pushed the government to rely more on the National Wealth Fund to cover a budget deficit projected at 7,300 billion rubles, double the original target, and gold sales may help ease a shortage of foreign currency liquidity. Meanwhile, Hong Kong imported 112.7 tonnes of Russian gold in the first seven months of the year, above the 92.1 tonnes for all of last year, with most of it shipped on to mainland China.
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